The rand was stronger on Wednesday morning, leading its emerging-market peers in gains. The SA Chamber of Commerce and Industry is set to publish its business confidence figure for September.
“The Fed might well be our saving grace. An address by Powell at the National Association for Business Economics last night cut through the Trump impeachment noise to provide a smidgen of stability to unsettled markets,” RMB analyst Nema Ramkhelawan-Bhana said. The median forecast among economists polled by Bloomberg is for business confidence to have fallen to 89 index points, from a 34-year low of 89.1 points in August.
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